Asset protection strategies

Home » Accounting » Asset Protection Strategies

Setting up an asset protection trust business structure can help to protect your assets or limit your liability – regardless of how big or small your business is.

Many people incorrectly believe that asset protection trusts are just for large enterprises, big business owners and wealthy people, but their benefits can also be utilised by almost anyone and any size of business, as everyone needs to ensure their assets are adequately protected.

Greenhalgh Pickard’s business accountants on the Sunshine Coast take pride in keeping up-to-date with the latest changes in the ever-changing trust laws to ensure the advice you receive is always current. In combination with the in-house experience in insolvency law, the team’s ability to tailor superior asset protection strategies is unsurpassed – regardless of whether you have assets that are low in value or you need more intricate trust protection solutions for larger asset bases.

Andrew Patrick, John Greenhalgh, and Bryan Pickard are Sunshine Coast accountants and solicitors experienced in the field of asset protection. Andrew, John, and Bryan each have a wealth of experience specialising in various accounting and legal areas which ensures a well-rounded approach to your asset protection needs in which all angles are considered to provide the best asset protection package tailored to your needs.

Setting up a legal trust

If you operate your business as a trust, the trustee is legally responsible for its operations. Because the trustee can be a company, this can assist in providing personal asset protection.

Setting up a trust requires a formal trust deed that outlines how the trust operates and administrative work that must be undertaken each year.

Another benefit of trusts, if set up and managed correctly, is they can reduce tax rates through the ability to distribute income to beneficiaries on a much lower, individual tax rate.

If you need advice in the area of setting up a legal trust, including advantages and disadvantages compared to other business structures, call (07) 5444 1022 today.

Charged with Drink Driving on an Electric Scooter?
Charged with Drink Driving on an Electric Scooter?

Getting Charged with Drink Driving on an E-Scooter or E-bike Despite it seeming like an easier way home after a night out, there are significant laws in place regarding drink driving on an e-scooter or e-bike. Although the law does not class this in...

De Facto Property Settlements
De Facto Property Settlements

If you and your partner are not legally married, not related by family, and live together on a genuine domestic basis – chances are you are in a de facto relationship. [1] It is common for de facto couples to acquire property together throughout the...

Offers to Settle and Seeking Recovery of Costs
Offers to Settle and Seeking Recovery of Costs

When can an offer to settle be made? When disputes arise, an offer to settle may be made at any time throughout the course of the matter.Why present an offer to settle?  If early settlement is possible in the circumstances, then resolving a matter by...

Do I need an Enduring Power of Attorney (EPA)?
Do I need an Enduring Power of Attorney (EPA)?

Firstly, what is an enduring power of attorney? Unlike a Will, which protects your interests after you pass away an enduring power of attorney operates when you are alive, but you have lost capacity.What is capacity? Capacity is the understanding...

Contact Your Nearest Office

If you are interested in meeting with an accountant or lawyer regarding your business or commercial interests, please fill out the form to book an appointment or call (07) 5444 1022